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TRAITILY

Leveraging Psychometric Assessments to Assist Employers in Making Informed Choices

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

Traitily is a digital platform that leverages on normative psychometric assessments to quantify the suitability of a candidate to a particular role as well as the potential employer. Our artificial intelligence engine combines the results of the psychometric assessment together with other variables such as skillset, interest, salary expectations, and location to recommend suitable candidates for employers eliminating the tedious filtration process and lowering the risk of a bad hire.

 

PROBLEM 
  • 46% of all hires failed within 18 months
  • 89% indicate failure due to something involving personality & attitude
  • ONLY 11% of new hires failed due to technical incompetency

New hires (aka bad hires) fail due to a mismatch between their traits and the job. Bad hires are one of the most costly mistakes companies can make because they directly affect an organisation’s bottom line due to (i) loss of productivity (ii) lower staff morale (iii) monetary cost

Bad hires happen due to an Employer’s inability to access the right tools to assess applicant’s traits so they rely on traditional methods (such as CV matching) to filter and shortlist applicants – which in itself creates a couple of major inefficiencies:

  • The time it takes to review the application and gauge their interest (avg 10 mins per application, 17 hours of effort)
  • CVs lead to subconscious bias as they contain information such as; name, age, gender, ethnicity, religion, education, social status etc. which have little relevance to predicting on-the-job success.

 

SOLUTION

Traitily is a digital recruitment solution that provides validated behavioral assessments to match candidates and job functions.

PRODUCT
Phase 1:

ASSESSMENT PLATFORM

  • Employers to submit shortlisted candidates to undergo Personality & Engagement assessments
  • Additional assessments such as Cognitive and Attitude are available for purchase as well
Phase 2:

JOB MATCHING PLATFORM

Scoring system based on:

o “Job Fit” Score

o Salary Band

o Experience

o Skills

o Notice Period

o Location

o Interest

o ”Good Impression Score”

 

TRACTION

18 Companies currently signed up

46 Candidates have completed the assessment and being reviewed by employers

 

CUSTOMERS

Employers: MNC & SMEs

Candidates: Executive and Above

 

BUSINESS MODEL

Free Filtration for 100 Candidates for first 3 Job Campaigns

RM 5 per candidate to review and filter

RM 15 per report:

  • Personality
  • Engagement
  • Remote Working
  • Learning & Development

RM 10 per report:

  • Cognitive
  • Attitude

 

MARKET

Malaysia workforce is 15.6 million strong

3 million Malaysian’s are open to new opportunities

48% of the Malaysian Population are in the workforce

RM 21,600 cost per bad hire in Malaysia

MYR 15 billion total industry cost for bad hires

 

 

COMPETITION

Currently in the recruitment industry there are 2 types of competitors:

  • Job Boards – i.e WOBB, Jobstreet, Linked In
  • Psychometric Assessment Service Provider – Psymetrics, Cubix, Pulsify, Traitify

Job Boards are historically based on the concept of quantity over quality. For every job campaign that is created, candidates will tend to apply regardless if they fulfill all the necessary criteria. The onus is always on the employer to vet through all applications to gauge suitability and interest. Traitily’s function is to eliminate this time-consuming exercise on the employer’s side as well as removing any bias that might exist. Traitily’s data driven algorithm converts the candidate’s answers to the psychometric assessment into a job fit score which quantifies their suitability to the specific job function. This helps the employer make an informed recruitment decision.

 

FUNDING

Raising RM 1,000,000 for to be used to scale the business post Phase 2.

  • 56% to be used with regards to building the team
  • 26% will be used for tech development
  • 18% for Miscellaneous 

 

VISION

Upon maturity of Phase 2, critical data that is available will provide opportunities to branch out into other verticals in e-commerce and fintech 

 

INVESTORS

Already secured RM 600,000 from 3 individuals from both the United Kingdom and Malaysia who are closely associated with the recruitment industry

 

FOUNDERS

Vimal Kumar
Formerly Accenture, AirAsia X, iFlix specializing in business strategy, corporate finance and operations

 

Ewen Sim
Formerly PWC, Kenanga, Krowhired specializing in System Development, Sales and Operations

 

Edwin Hor
Formerly Robert Walters & Krowdhired specializing in recruiting for MNCs as well as SMEs.

 

TEAM

Highly experienced facilitator and a Global Master Practitioner in Dr. Edward de Bono's Thinking Methods. Nigel is a former military fast jet pilot and is a teaching graduate with a background in business management where he became experienced in the use of psychometric assessment in the recruitment and development of effective personnel. He is a regular conference speaker and has presented workshops to a wide variety of audiences. He has delivered major programmes for corporate clients including BT, Allianz, PWC, Bayer and HSBC helping them to hold more effective meetings and release creativity in their teams and organisations.

 

 


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RISK WARNING


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Investments are speculative and carry high risks. To decrease exposure, these types of investments should only be made as part of a diversified portfolio. Spread your risks and only invest money that you can afford to lose. pitchIN wants all investors to understand these risks and make careful investment decisions. You are also encouraged to seek independent advice.